Resource Analysis Is the Identification of the Resources Available in an Organization

question 40

True/False

Resource analysis is the identification of the resources available in an organization that might be required to design a training and development program. As a principle, it does not deal with determining whether the organization has the ability to implement the actual program.

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Definitions:

Economic Profit

The surplus remaining when total revenue is greater than total cost, including both explicit and implicit costs, often indicating a company's profitability.

Purely Competitive Seller

A seller in a market characterized by many buyers and sellers, free entry and exit, homogeneous products, and perfect information.

Total Cost

The sum of all costs incurred by a business in producing a given level of output, including both fixed and variable costs.

Product Price

refers to the amount of money required to purchase a specific good or service offered by a business.